PRECIOUS-Gold prices inch lower as U.S. Treasury yields rise

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BENGALURU, July 24 (Reuters) - Gold prices edged lower on
Tuesday as the dollar steadied and U.S. Treasury yields rose on
expectations that the Federal Reserve would likely continue
raising interest rates.
FUNDAMENTALS
* Spot gold was down 0.1 percent at $1,222.82 an
ounce at 0052 GMT.
* U.S. gold futures for August delivery were 0.2
percent lower at $1,222.90 an ounce.
* The dollar index , which measures the greenback
against a basket of six major currencies, held steady at 94.641.
It bounced to 94.672 from a low of 94.207 touched on
Monday.
* Benchmark 10-year U.S. Treasury yields rose to their
highest in five weeks on Monday as the Federal Reserve was seen
as likely to continue raising interest rates despite criticism
from U.S. President Donald Trump.
* With markets rife with speculation that the Bank of Japan
is close to announcing measures to scale back its massive
monetary stimulus, Japanese traders and analysts mused over its
options, ranging from subtly changing its policy statement to
drastically hiking its bond yield target.
* Japan's yen hit two-week highs against the dollar and the
10-year benchmark bond yield jumped to a six-month peak on
Monday, following reports the central bank was debating moves to
scale back its massive monetary stimulus.
* Iran on Monday dismissed an angry warning from Trump that
Tehran risked dire consequences "the like of which few
throughout history have suffered before" if it made threats
against the United States.
* There is scope to revive efforts to rework the North
American Free Trade Agreement (NAFTA) when trade ministers from
Mexico and the United States meet this week, a top Mexican
official said on Monday.
* British opposition leader, Jeremy Corbyn will call on the
government on Tuesday to back his vision for a new customs union
with the European Union to avoid a "botched" Brexit leaving the
country "in hock to Donald Trump".
* European Commission President Jean-Claude Juncker will not
arrive in the United States for talks with Trump with a specific
trade offer, the Commission said on Monday.
* Holding of SPDR Gold Trust , the world's largest
gold-backed exchange-traded fund rose 0.55 percent to 802.55
tonnes on Monday.
* Wheaton Precious Metals Corp , the world's largest
silver streaming company, said on Monday it would buy all of the
gold assets from Sibanye Gold Limited's Stillwater and
East Boulder mines in Monatana.
* Anglo American Platinum posted a 350 percent rise
in interim profits on Monday and kept the dividend tap flowing
as it reaps the benefits of a pivot to mechanised mining that
has lifted productivity and cut costs.
(Reporting by Karen Rodrigues in Bengaluru; Editing by Sunil
Nair)